The most recent exploration success on the Cesar copper project in Colombia has the copper shale model from Max Resource Corp. (TSX.V: MXR; OTC: MXROF; Frankfurt: M1D2) impressively confirmed. Max Resource has found additional evidence of high grade copper mineralization in sedimentary layers. All geological data indicate that this is a continuation of the same deposit horizon recently discovered on the Herradura copper-silver project in the northern portion of the AM North concession. The Herradura copper zone is growing from 16 to 29 square kilometers. The ambitious goal of Max Resources is to show that the copper shale mineralization extends over a huge basin approximately 500 square kilometers in northeast Colombia, with the occurrences deeper to the south.
Max wants to include data from extensive oil and gas wells in the region in his exploration in the future. It is believed that the copper-bearing layer was intersected in many places during these drillings. Extensive mining infrastructure already exists around Cesar, including Cerrejon, the largest coal mine in Latin America, which is jointly owned by global miners BHP Billiton, XStrata and Anglo American.
Figure 1: The new discovery on the Herradura copper project is approximately 2 kilometers south of the previously identified copper mineralization. Once again, the copper-rich sediment layer comes to the surface at a break-off edge. Max suspects that it is the continuation of the same, originally coherent sediment layer, which was later placed across by geological faults.
The results of the rock splinter canals should be emphasized (see Table 1):
– 7.2% copper + 55 g / t silver over 2.0 meters
– 5.9% copper + 56 g / t silver over 1.5 meters
– 5.5% copper + 56 g / t silver over 1.0 meter
– 3.4% copper + 63 g / t silver over 1.0 meter
– 3.0% copper + 29 g / t silver over 3.0 meters
Figure 2: The stratified copper mineralization is exposed at the edge of the terrain. What this means can be assessed when one considers that in Poland a comparable copper slate horizon is profitably mined at a depth of 500 meters.
Regional sampling has indicated the occurrence of several new outcrops of stratified copper-silver mineralization extending the Herradura Zone for over 5.7 km along strike and 5.1 km down dip. The zone remains open both along strike and down dip as the new horizons are interpreted as continuations of Herradura along strike and down dip.
Max assumes that CESAR is very similar to European copper slate. These deposits are the largest source of copper in Europe. The copper-rich sediment layer is 0.5 to 5.5 meters thick. In 2018, 3MT was extracted from this mineralized layer, grading 1.49% copper and 48.6 g / t silver. The copper shale deposits also produced 40 million Mozs of silver in 2019, almost twice as much as the production of the second largest silver mine in the world (World Silver Survey 2020 and copper shale Depots & Prospects in SW Poland, September 27, 2019).
One of the leading copper slate experts, Professor Adam Piestrzyński, recently mentioned numerous similarities between CESAR and the Polish copper slate deposits in a lecture. The similarities include lithology, mineralogy, deposit parameters as well as the content and origin of the sulfur. However, the copper shale ore body in Poland is 500 meters below the surface, while Max’s CESAR copper-silver mineralization begins on the surface.
“Regional exploration has not only expanded the Herradura Zone from 16 to 29 square kilometers, but the zone is still open along strike and down dip, demonstrating the importance and regional character of the CESAR Basin,” said Max CEO Brett Matich .
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According to §34 WpHG, we would like to point out that partners, authors and / or employees of GOLDINVEST Consulting GmbH can or do hold shares in Max Resource and thus a conflict of interest may exist. Furthermore, we cannot rule out that other stock market letters, media or research firms will discuss the values we have discussed during the same period. Therefore, symmetrical generation of information and opinions can occur during this period. Furthermore, there could be a consulting or other service contract between GOLDINVEST Consulting GmbH and Max Resource in the future, which would also result in a conflict of interests.
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